During the year, ABC Company's cost of goods manufactured is $450,000. Beginning of the year finished goods inventory is $120,000 and end of the year finished goods inventory is $160,000. What is the cost of goods sold? a. $290,000. b. $410,000. c. $450,000. d. $490,000. e. $610,000.

During the year, ABC Company's cost of goods manufactured is $450,000. Beginning of the year finished goods inventory is $120,000 and end of the year finished goods inventory is $160,000. What is the cost of goods sold? a. $290,000. b. $410,000. c. $450,000. d. $490,000. e. $610,000.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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During the year, ABC Company's cost of goods
manufactured is $450,000. Beginning of the year
finished goods inventory is $120,000 and end of the
year finished goods inventory is $160,000.
What is the cost of goods sold?
a. $290,000.
b. $410,000.
c. $450,000.
d. $490,000.
e. $610,000.

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